Fox Co. (NASDAQ:FOXA) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in Fox Co. (NASDAQ:FOXA) by 3.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 145,431 shares of the company’s stock after acquiring an additional 4,224 shares during the period. QRG Capital Management Inc.’s holdings in FOX were worth $7,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after purchasing an additional 110,753 shares during the last quarter. Entropy Technologies LP purchased a new stake in FOX in the third quarter valued at $546,000. Invst LLC purchased a new stake in FOX in the third quarter valued at $740,000. Asset Management One Co. Ltd. boosted its holdings in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after purchasing an additional 23,704 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in FOX in the third quarter valued at $2,867,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 2.1 %

FOXA stock opened at $57.60 on Friday. The company has a market cap of $26.12 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.27 and a beta of 0.76. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 12 month low of $28.28 and a 12 month high of $58.38. The firm has a 50-day moving average of $51.67 and a two-hundred day moving average of $46.09.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FOXA shares. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Bank of America increased their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Loop Capital increased their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.19.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.